by Brendon Nafziger
, DOTmed News Associate Editor | August 02, 2011
Hologic Inc. touted a record $451.1 million in sales for the third quarter late Monday, driven partly by rising adoptions of its 3-D digital mammography system.
It also announced the purchase of a Chinese manufacturer of mammography products and the appointment of the new chairman of its board, David R. LaVance, filling in for outgoing chair Jack Cumming, who said he would step down two years ago.
The Bedford, Mass.-based company posted a 7.2 percent increase over last year's same-quarter revenues of $420.7 million. Profits rose to $36.2 million, or 14 cents a diluted share, up nearly 32 percent from $27.4 million, or 11 cents a share, from third quarter 2010.
The company credited its growth in its third quarter, which ended June 25, to strong performance in its four main segments.
Its breast health segment, which includes mammo units, breast biopsy and breast MRI coils, accounted for $205.2 million in sales, up 8.4 percent from the same time last year. Growth in this segment was driven largely by service revenues from a growing installed base of digital mammo, Hologic said.
In a conference call, CEO Robert Cascella said sales of the Selenia Dimensions 3-D mammo system, cleared in February
, more than doubled in the U.S. and grew 80 percent internationally.
"Although limited [in] data thus far, we believe our 3-D Dimensions has the potential to become the standard of care in screening mammography," he said on the call.
Hologic also said that on July 19 it bought Beijing Healthcome Technology Company Ltd., a privately held Beijing-based maker of mammography systems, for up to $16.9 million in a mix of up-front and contingent payments. This follows the purchase of another Beijing-based company
, TCT, which distributes Hologic's ThinPrep Pap Test, for $135 million in cash on June 1.
Hologic's stock traded at $17.84 a share on Nasdaq early Tuesday, down 1.16 percent